Fonciere Inea (INEA) Q1 2026 TU earnings summary

Executive summary

• Consolidated revenue for Q1 2026 reached €20.2M, down 3.2% year-over-year, reflecting resilience amid a complex market.

• Like-for-like rental income grew 1.9%, driven by indexation, despite a slowdown in leasing activity.

• Ongoing asset disposal strategy with new sales and promises of sale totaling €10.3M.

Financial highlights

• Revenue at constant scope increased by 1.9% compared to Q1 2025, reaching €19.3M.

• Total consolidated gross rental income (IFRS) declined by 3.2% year-over-year due to asset disposals and IFRS 16 impacts.

• Asset disposals in 2025 contributed to a -2.3% change in non-constant scope revenues.

Outlook and guidance

• Continued focus on opportunistic asset disposals aligned with current market conditions.

• Financial calendar includes AGM in May, Q2 revenue in July, and H1 results in July 2026.